How Higos Can Help The Over 65’s Access Insurance Cover2010|2009
Ian Gosden, managing director of Higos, comments on the Which? article – published in this month’s Which? magazine - which highlights the problems people over 65 have in obtaining insurance and at a competitive price.
The Which? article rightly highlights the issues that arise for the over 65s searching for life, household, car and other types of insurance.
Those over 65 can be seen by insurance companies as a higher risk category – for example, older people are considered to pose a greater risk of having an accident or falling ill while abroad and in the event of a claim, treatment tends to be more expensive. As a result, not all companies want to take on travel insurance risk. Those that do may impose restrictions.
Consequently, older people may find their choice is limited, particularly on popular websites that are more often focused on straightforward insurance deals and cater less for other needs.
However, local brokers have the depth of knowledge and experience built up over years of dealing with the insurance companies which means they can often find the insurance cover people are not going to get on the ‘cheap and cheerful’ websites.
Talking to a local broker can make a lot of sense for those having difficulty finding an insurer, not least as the broker will not only be able to undertake a comprehensive search of the market but will look to ensure the policy gives the customer the cover they require, as studying the terms and conditions is also essential.
The insurance companies may well charge more to provide cover to the over 65s because they are deemed higher risk, but using a local broker can ensure they can get the right cover at the best price possible.